Novartis sells India arm to ChrysCapital for Rs 1,446 Cr

New Delhi: Swiss drugmaker Novartis AG on Friday said it has agreed to sell its entire 70.68 per cent stake in Novartis India Ltd to the ChrysCapital group for about Rs1,446 crore, marking a complete exit from its listed Indian arm. The divestment follows a strategic review initiated by Novartis AG in February 2024. The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2026. The acquisition has triggered a mandatory open offer for public shareholders to tender up to 26 per cent equity in Novartis India. The acquirers will offer to buy up to 64.19 lakh shares at Rs860.64 per share, aggregating to Rs552.49 crore. Novartis India’s board has been informed of the decision following the signing of the agreement between Novartis AG and ChrysCapital.